Economy, Domestic Economy

PPI Inflation at 3.3%

PPI Inflation at 3.3%PPI Inflation at 3.3%

The average Producer Price Index in the 12-month period ending August 21, which marks the end of the Iranian month of Mordad, rose 3.3% compared with last year’s corresponding period, according to the Central Bank of Iran.

The index registered a year-on-year increase of 2.6% compared with the similar month of last year.

PPI (using 2011 as the base year) stood at 221.7 in Mordad, indicating a 0.7% growth compared with the previous month.

The CBI put the average PPI inflation for the preceding month (Tir) at 3.5% with year-on-year increase of 2.7%. The importance of PPI lies in its predictive content for the future pattern of Consumer Price Index. Changes in PPI are usually reflected in CPI within a short period of time.

The central bank’s latest data on the CPI shows the goods and services CPI for urban areas in the 12 months to August 21, increased 8.9% compared with same period last year.